485 East Street

New Haven, CT 06511

$390,000
Price
9
Beds
3
Baths
2,616 Sq. Ft.
$149 / Sq. Ft.
2,616
Sq. Ft.
$149
per Sq. Ft.

Description

This 3-family property, situated directly across from Jocelyn Park, offers a rare chance to acquire a multifamily building in a highly desirable location. Just steps from East St. and State St., tenants will enjoy easy access to local restaurants, bars, and shops, making this a sought-after rental location. Each unit features 2-3 bedrooms with abundant natural light, perfect for attracting quality tenants. Two of the units boast updated kitchens and bathrooms, ready for immediate occupancy or rental....This 3-family property, situated directly across from Jocelyn Park, offers a rare chance to acquire a multifamily building in a highly desirable location. Just steps from East St. and State St., tenants will enjoy easy access to local restaurants, bars, and shops, making this a sought-after rental location. Each unit features 2-3 bedrooms with abundant natural light, perfect for attracting quality tenants. Two of the units boast updated kitchens and bathrooms, ready for immediate occupancy or rental. The first unit is currently rented at below-market value, providing clear potential for rent increases and higher cash flow. Investors will recognize the serious upside here-whether you're looking to stabilize the asset with market-rate tenants or owner-occupy and have your mortgage covered by rental income. With updated properties in the area fetching $480k and higher, this is a solid value-add play with significant appreciation potential. Property is being sold as-is, where-is-ideal for savvy investors who understand the potential in New Haven's growing rental market.
  1. Listed by Lisa Cozzi • Berkshire Hathaway NE Prop.
    P: (860)-215-3634 C: (860)-215-3634 mulveylisa@gmail.com
  2. Listed by Molly E Bradbury • Berkshire Hathaway NE Prop.
    P: (860)-633-3674 C: (860)-878-8141 molly.lisacozziteam@bhhsne.com

Property Details for 485 East Street

Basement Description
Full, Unfinished, Shared Basement
Direct Waterfront
No
Neighborhood
N/A
Style
Units on different Floors
Garage Parking Info
None
Swimming Pool
No
LISTING UPDATED: 10/23/2024 06:43 PM

Property Details for 485 East Street

StatusActive
MLS #24041218
Days on Market71
Taxes$6,069 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / 3 Family
Year Built1900
Lot Size0.07 AC / 3,049 SF
CountyNew Haven County

Building Information for 485 East Street

Stories-Residences3Year Built1900Building Size-Lot Size0.07 AC / 3,049 SF

Property Information for 485 East Street

Summary
Property and Location
  • Acres Source: Public Records
  • Directions: GPS Friendly
  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed
  • Latitude: 41.312312
  • Longitude: -72.909183
  • State: Connecticut
HOA and Fees
  • Home Owner's Assocation: No
  • Tax Year: July 2024-June 2025
  • Property Tax: $6,069
Interior and Exterior Features
Exterior Features
  • Waterfront Description: Not Applicable
Interior Features
  • Cooling System: None
  • Heat Type: Baseboard, Hot Air
  • Attic YN: No
  • Fireplaces Total: 0
  • Rooms Total: 18
Property
Property and Assessments
  • Construction Description: Frame
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Concrete
  • New Construction Type: No/Resale
  • Roof: Asphalt Shingle
  • Year Built: 1900
  • Year Built Source: Public Records
  • Bank Owned Property: No
Lot Information
  • Lot Description: Level Lot
  • Parcel Number: 1244822
  • Sq Ft Est Heated Above Grade: 2616.0
  • Sq Ft Total: 2616.0
  • Zoning: RM2
Utilities
  • Heat Fuel Type: Natural Gas
  • Hot Water Description: Other
  • Sewage System: Public Sewer Connected
  • Water Source: Public Water Connected
Multi Family
Income and Expenses
  • Gross Annual Expense: 12118
  • Gross Annual Income: 10980
  • Net Operating Income: $1,138
  • Occupied By: Tenant
  • Total Number of Units: 3
  • Total Rooms Multi Family: 18
Unit 1
  • Listing Key: 2032679A10DC1D21E0631401100A2BB6
  • Unit Entry Order: 3
  • Unit Full Baths: 1
  • Unit Modified Date: 10-23-2024
  • Unit Num Bedrms: 3
  • Unit Num Rooms: 6
  • Unit Occupied By: Vacant
Unit 2
  • Listing Key: 2032679A10DC1D21E0631401100A2BB6
  • Unit Entry Order: 1
  • Unit Full Baths: 1
  • Unit Modified Date: 10-23-2024
  • Unit Monthly Rent: $915
  • Unit Num Bedrms: 3
  • Unit Num Rooms: 6
  • Unit Occupied By: Tenant
Unit 3
  • Listing Key: 2032679A10DC1D21E0631401100A2BB6
  • Unit Entry Order: 2
  • Unit Full Baths: 1
  • Unit Modified Date: 10-23-2024
  • Unit Num Bedrms: 3
  • Unit Num Rooms: 6
  • Unit Occupied By: Vacant

Property History for 485 East Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 485 East Street

Taxable ValueLand$26,040Additions$131,600Total$157,640
Tax Record2024$6,069 ($506 / month)
Home Facts
Baths3Total Finished SqFt2,616 SqFtAbove Grade Finished SqFt2,616 SqFtStories3Lot Size3,049 SqFtStyleTriplexYear Built1900ZoningRM2CountyNEW HAVENAPNNHVN M:181 B:0599 L:01300

Schools near 485 East Street

This home is within New Haven School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - PK to 8
Public - PK to 8
Rating
School
Distance
East Rock Community Magnet School
PublicPK to 8

New Haven Academy
Public9 to 12

John S. Martinez School
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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485 East Street is a multi-family home for sale in New Haven, CT 06511. This property was listed for sale on August 21, 2024 by Berkshire Hathaway NE Prop., it's currently listed at $390,000. It has been on the market for a total of 71 days and was last sold on January 6, 2020. This listing's school district is New Haven School District. Nearby schools include East Rock Community Magnet School, New Haven Academy and Family Academy of Multilingual Exploration. 485 East Street is a 9-bed, 3-bath, 2,616 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Berkshire Hathaway NE Prop., Lisa Cozzi; Berkshire Hathaway NE Prop., Molly E Bradbury

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.